8:01 AM | Elon Musk randomly distributes $1 million to US voters every day until the election day; The intern who attacked the training of ByteDance's large model has been fired; In Yunnan, "Menstrual Leave" will be implemented starting from November 1.
TOP3 Big News
Musk Announces to Randomly Give $1 Million to Voters Until Election Day
The US presidential election has entered the final stage, with former President Trump and Vice President Harris engaged in a fierce competition. On October 19, Musk announced at an event that from now (October 19) until Election Day (November 5), he will randomly give $1 million every day to a registered voter in Pennsylvania who signs the "America Political Action Committee" (America PAC) petition. The first winner of the day has been determined, and his name is John Drehere.
Pennsylvania is an important swing state in the US that has a decisive impact on the election results. It is reported that voters who sign this petition commit to supporting freedom of speech in the First Amendment and the right to bear arms in the Second Amendment of the US Constitution. This event is to attract supporters of pro-Trump statements and viewpoints to help the Trump campaign team identify and lock in potential supporters and "build a list". The petition states that its goal is "to get 1 million registered voters in swing states to sign in support of the Constitution, especially freedom of speech and the right to bear arms". According to the statement, signatories must leave their name, email address, mobile phone number, address, and the contact details of the referrer. Only voters in seven swing states are eligible to sign. Musk will pay a huge cost of up to $47 million to help recruiters "acquire new users" and find 1 million voters willing to sign the petition, and these voters who are willing to support conservative viewpoints will be regarded as "winnable voters". (Ifeng.com)
ByteDance's Large Model Training Attacked by an Intern, and the Involved Person Has Been Dismissed
On October 18, a message circulated in multiple WeChat groups: "The large model training of a leading company was invaded by an intern, who injected destructive code, resulting in unreliable training results and the possibility of needing to retrain. It is said that the code injection affected more than 8,000 cards, and the potential loss may exceed tens of millions of US dollars." Interface News learned from insiders that the leading company is ByteDance. This incident occurred in June this year. The cause was that a doctoral student from a certain university was interning in ByteDance's commercial technology team. Due to dissatisfaction with the team's resource allocation, the intern used attack code to disrupt the team's model training tasks. Rumors indicate that the intern, whose surname is Tian, exploited a vulnerability in HF (huggingface) to write destructive code in the company's shared model, causing the training effect of the model to fluctuate and fail to produce the expected training results, and the AML team was unable to verify the reason. However, after the rumors emerged, the intern also refuted the rumors in a certain WeChat group, claiming that after publishing his paper, he resigned from ByteDance, and at this juncture, another person exploited the vulnerability to modify the model code and shift the blame to him.
Interface News learned from insiders that ByteDance has internally investigated and clearly determined that this incident was caused by the intern whose surname is Tian. Currently, the intern has been dismissed, and ByteDance has simultaneously informed the industry alliance and the school where the intern is from about this matter. However, after being dismissed, this intern has been everywhere "refuting rumors" and shifting the blame, claiming that it was done by someone else. (Interface News)
Menstrual Pain Leave to Be Implemented in Yunnan from November 1
Starting from November 1, 2024, female employees in Yunnan Province who suffer from severe menstrual pain can take a 1 to 2-day leave during their menstrual period after being diagnosed by a medical or maternal and child health care institution. It is reported that the concept of "menstrual pain leave" has actually existed for a long time. The "Regulations on Health Care for Female Employees" jointly issued by the former Ministry of Health, the All-China Federation of Trade Unions, and other 3 departments in 1993 pointed out that female employees who suffer from severe menstrual pain and excessive menstruation can be given a 1 to 2-day leave during their menstrual period with appropriate approval from a medical or maternal and child health care institution. According to incomplete statistics, at present, at least more than ten provinces including Beijing, Shanghai, Shaanxi, Jiangsu, Shandong, Sichuan, etc., have clearly stipulated this right for female workers in local regulations. (Yunnan Daily, China Youth Daily)
Big Companies/Big Events
Humanoid robots are accelerating their "evolution", and the industry predicts that the industrial scale will exceed 20 billion yuan in 2026.
The CCID Research Institute believes that driven by government guidance and investment, the humanoid robot industry will continue to grow at a high speed in 2024 and 2025. It is expected that the scale of China's humanoid robot industry will exceed 20 billion yuan in 2026. (Economic Daily)
The price of domestic pure gold jewelry exceeds 800 yuan per gram.
Affected by multiple factors, the market's demand for hedging has increased. On October 18, the international gold price continued to rise. As of the close of the day, the gold futures price for December delivery on the New York Mercantile Exchange was reported at $2730 per ounce, with an increase of 0.83%. It has set a new closing historical high for two consecutive days. Affected by this, the price of pure gold jewelry of individual domestic merchants has exceeded 800 yuan per gram. The store owner told reporters that since March this year, the gold price has been adjusted frequently, and many consumers are taking a wait-and-see attitude, but there are also some buyers with rigid demand. (CCTV Finance)
Beijing Is Planning a 3,000 Square Kilometer Autonomous Driving Demonstration Zone
At the 2024 World Intelligent Connected Vehicles Conference, Wang Lei, Deputy Director of the Management Committee of Beijing Economic-Technological Development Area and Director of the Beijing High-Level Autonomous Driving Demonstration Zone Working Office, disclosed that Beijing has been implementing the "Vehicle-Road-Cloud Integration" solution since 2020. The high-level autonomous driving demonstration zone has been iterated to the 3.0 stage so far, expanding from Yizhuang to Tongzhou and Shunyi, and has now expanded to 600 square kilometers. In the next stage, planning will be made for an area of 3,000 square kilometers between the Fourth Ring Road and the Sixth Ring Road in Beijing to further expand the scope of the demonstration zone. (Sci-Tech Innovation Board Daily)
National Bureau of Statistics: The GDP of the financial industry in the third quarter increased by 6.2% year-on-year.
36Kr learned that the National Bureau of Statistics announced the preliminary accounting results of the gross domestic product in the third quarter of 2024. According to the preliminary accounting, the gross domestic product in the first three quarters was 9,497,460 million yuan, with a year-on-year growth of 4.8%; the gross domestic product in the third quarter was 3,329,100 million yuan, with a year-on-year growth of 4.6%. Among them, the GDP of the financial industry in the third quarter increased by 6.2% year-on-year, the GDP of the information transmission, software and information technology service industry increased by 10% year-on-year, and the GDP of the real estate industry decreased by 1.9% year-on-year.
The three major U.S. stock indexes closed higher collectively, with Netflix rising by more than 11%.
36Kr learned that at the close of trading on October 18, the three major U.S. stock indexes closed higher collectively. The Dow Jones Industrial Average rose by 0.09%, the Nasdaq Composite Index rose by 0.63%, and the S&P 500 Index rose by 0.4%. Large technology stocks had mixed performances. Netflix rose by more than 11%, Apple rose by more than 1%, Microsoft, Amazon, Google, and NVIDIA rose slightly; Arm fell by more than 1%, and Tesla and Meta declined slightly. Popular Chinese concept stocks generally rose. Li Auto rose by more than 6%, Bilibili, NetEase, and Weibo rose by more than 3%, and Alibaba, JD.com, Baidu, and iQIYI rose by more than 2%.
The Launch of a New Round of Sampling Survey on Population and Family Development: A Comprehensive Analysis of the Reasons for Not Wanting to Have Children and Not Daring to Have Children
On October 17, the WeChat official account of the China Population and Development Research Center released the news that the sampling survey on the population and family development situation in China has entered the stage of organization and implementation. This survey is a specific action to implement the decision-making and deployment of the Party Central Committee and will obtain new data on marriage and childbearing concepts, marriage and childbearing behaviors, and their influencing factors. According to the China Population and Development Research Center, after more than a year of preparation, on October 11, 2024, the National Bureau of Statistics of China officially approved the sampling survey system and plan for the population and family development situation in China. This survey will select 150 monitoring counties, 1,500 communities (villages), and a survey sample of 30,000 people. The survey content will focus on the main factors that affect the willingness and behavior of the masses to have children, understand the practical difficulties and needs of families in childbearing and raising, comprehensively analyze the reasons for "not wanting to have children and not daring to have children", and provide a scientific basis for improving fertility support policies and incentive measures, effectively solving the "urgent and difficult issues" of the masses, and promoting the effective implementation of fertility policies. (The Paper)
Tingquan Jianbao Live Commerce: 7.5 Million Yuan Sold in One Night
On the evening of October 19, Tingquan Jianbao launched its first show after the name change. According to Feigua Data, the peak number of online viewers exceeded 1 million. Different from the previous simple treasure appraisal, this live broadcast has a stronger commercial flavor, with more connections with brands and live commerce. Data shows that the sales volume of Tingquan's first live commerce reached as high as 7.5 million yuan, and the number of views exceeded 20 million. An e-commerce industry practitioner told the Blue Whale News reporter that his own brand is in contact with Tingquan Jianbao. In recent days, they have indeed started to recruit merchants for live commerce, and showed the reporter some of Tingquan's merchant recruitment posters and other contents. The brand also revealed that the brand requirements for Tingquan's merchant recruitment are relatively high, and it needs to be a leading brand in the industry. And the business expenses are indeed not low. The cooperation fee is about several hundred thousand yuan. As for the final amount, it depends on the specific negotiation and it is not convenient to disclose more. (Blue Whale News)
The US federal government begins to investigate Tesla FSD
The documents publicly disclosed by the National Highway Traffic Safety Administration (NHTSA) on October 18 show that the agency has officially launched an investigation into Tesla's "Full Self-Driving System" (FSD). NHTSA stated that it is investigating whether Tesla's self-proclaimed "Full Self-Driving System" has the necessary safety measures to require the driver to regain control of the vehicle when the autonomous driving technology is unable to handle the situation. Although the name includes autonomous driving, Tesla also notes on its official website that the FSD software requires the active supervision of the driver when on the road, and this software does not make the vehicle have autonomous driving capabilities. (Cailian Press)
SpaceX Completes Its 100th Orbital Launch This Year, Launching 20 Satellites for OneWeb
At 22:13 local time on October 19 (13:13 Beijing time on October 20), the American space exploration technology company SpaceX launched the Falcon 9 rocket carrying 20 satellites of OneWeb from Vandenberg Space Force Base. This is SpaceX's 100th orbital launch this year. The first-stage booster of the Falcon 9 rocket used in this mission has previously completed 6 launches. (Jiemian News)
Ming-Chi Kuo: Microsoft's Q4 GB200 Order Volume Surges 3 - 4 Times, Exceeding the Sum of All Other Cloud Service Providers
The latest industry chain order information of Nvidia Blackwell GB200 chip released by Ming-Chi Kuo, an analyst at Tianfeng International Securities, shows that currently Microsoft is the world's largest GB200 customer. Its order volume in the fourth quarter of this year has surged by 3 - 4 times, exceeding the sum of all other cloud service providers. Ming-Chi Kuo stated in the report that the capacity expansion of the Blackwell chip is expected to start at the beginning of the fourth quarter of this year. At that time, the shipment volume in the fourth quarter will be between 150,000 and 200,000. It is expected that the shipment volume in the first quarter of 2025 will increase significantly by 200% to 250%, reaching 500,000 to 550,000. (Wall Street Insights)
The first store of Beijing Yonghui Supermarket that independently adjusted and reformed by "Learning from Pangdonglai" resumes business
36Kr has learned that on October 19, the Xilongduo Store in Shijingshan, the first store of Beijing Yonghui Supermarket that independently adjusted and reformed by "Learning from Pangdonglai", resumed business. It is reported that after the adjustment and reform, the decoration of the Xilongduo store has been completely renewed, the shopping passage has been widened, and the original mandatory moving line has been cancelled. In terms of products, the adjusted and reformed store has re-planned 12,765 single items, and the proportion of new single items is 76.2%. After sorting, the commodity structure reaches more than 90% of the commodity structure of Pangdonglai.
The first store of MINISO's trendy toy brand TOPTOY opens in Thailand
36Kr learned that on October 19, the trendy toy brand TOPTOY under MINISO opened its first store in Thailand. The store is located in The Mall Lifestore One Bangkapi in Bangkok. At the same time, in another shopping center in Bangkok, MEGA BANGNA, the TOPTOY "Good Night" themed pop-up store opened; the first TOPTOY store in Malaysia is also under preparation. For Chinese trendy toy brands, Southeast Asia has become an important market for going overseas. At the end of August this year, TOP TOY made its debut in the flagship store of MINISO in Jakarta in the form of a store within a store. Previously, Sun Wenyuan, the founder of TOPTOY, publicly disclosed that the company's strategic deployment this year is to open stores in 5 to 6 countries overseas.
The First Automotive Chip Certification and Review Technical System in China Officially Released
On October 17, the State Administration for Market Regulation organized and held an exchange and promotion meeting on the industrial application and quality improvement of domestic automotive chips in Beijing. At the meeting, the first batch of domestic automotive chip certification and review enterprise list was officially released, marking a new stage in the quality certification of automotive chips in China. At the same time, the 1.0 version of the automotive chip certification and review technical system was officially released. It is the first authoritative achievement of China in building an independent quality standard system in the field of automotive chips. It not only fills the gap in the domestic automotive chip quality certification system, but also lays a solid foundation for the efficient collaboration and innovative development of the future industrial chain. (Securities Times)
Chia Tai Tianqing Obtains the First Generic of a Heavyweight Antiviral Drug
Recently, the official website of the National Medical Products Administration (NMPA) of China shows that Letermovir Injection developed by Nanjing Chia Tai Tianqing, a subsidiary of Sino Biopharmaceutical, has received marketing approval, making this drug the first generic in China. The tablets and injections of Letermovir were first approved for marketing by the US FDA in 2017 under the trade name Prevymis. It is a highly anticipated new anti-cytomegalovirus (CMV) drug. Currently, Letermovir-related preparations have been marketed and sold in nearly 20 countries and regions including the United States, Europe, Japan, etc. (Securities Times)
Hainan Airlines Launches Beijing - Vladivostok Route
According to the official Weibo of Hainan Airlines, at 06:29 Beijing time on October 20, the direct flight HU405 of Hainan Airlines took off smoothly from Beijing Capital International Airport, marking the official launch of the Beijing - Vladivostok international route. This is the third direct flight from Beijing to Russia launched by Hainan Airlines after Beijing - Moscow and Beijing - St. Petersburg, and it is also the second direct flight to Vladivostok launched by Hainan Airlines after Dalian - Vladivostok.
The U.S. budget deficit for fiscal year 2024 amounts to 1.833 trillion U.S. dollars
On October 18 local time, the U.S. Department of the Treasury released the budget deficit situation for the fiscal year 2024. The budget deficit reached 1.833 trillion U.S. dollars, an increase of 8% compared to the fiscal year 2023. The U.S. Department of the Treasury pointed out that the federal debt interest exceeded 1 trillion U.S. dollars for the first time, and the increase in expenditures is mainly concentrated in social security, healthcare, and the military. (CCTV News)
Intel May Sell Shares of Altera Subsidiary Business
On the morning of October 18, Eastern Time, Intel's stock price declined. Previously, it was reported that the company is seeking a large external investment for its Altera programmable chip manufacturing subsidiary. On the evening of October 17, it was reported that Intel is seeking to sell a minority stake in the Altera subsidiary. Intel values the company at approximately $17 billion. Intel acquired Altera for $16.7 billion in 2015 and launched it as an independent company in February of the same year, and intends to spin it off through an initial public offering (IPO). Intel did not immediately respond to media requests for comment. (Sina Finance)
After layoffs and poor stock performance, CVS appoints a new CEO
The largest chain pharmacy in the US, CVS, appointed a new chief executive officer on October 18. David Joyner, a long-time CVS Health executive, replaced Karen Lynch. CVS also withdrew its 2024 earnings forecast and advised investors not to rely on the full-year guidance provided in August, citing increased medical cost pressures. The stock price has dropped nearly 20% so far this year and fell sharply after the announcement. Prior to this personnel change, the company has experienced an especially challenging year, with a plunging stock price, weak growth, pressure from investors, and a series of other issues. (Sina Finance)
Fed Official Bostic: Not in a Hurry to Lower Interest Rates to Neutral, Remains Patient on Rate Cuts
Atlanta Federal Reserve Bank President Raphael Bostic emphasizes that policymakers are committed to achieving the 2% inflation target, stating that he is not in a rush to lower interest rates to the so-called neutral level. The Atlanta Fed president reaffirms that the Fed's benchmark interest rate is still well above the level that neither boosts nor slows the economy, and he estimates that this so-called neutral interest rate is between 3% and 3.5%. Bostic also indicates that he expects the inflation rate to drop to the Fed's target level by the end of next year. (Sina Finance)
Big Company Financial Reports
CATL: The net profit in the third quarter of 2024 is 13.136 billion yuan, with a year-on-year growth of 25.97%
36Kr learned that CATL released its third-quarter report. In the third quarter of 2024, the revenue is 92.278 billion yuan, with a year-on-year decrease of 12.48%; the net profit is 13.136 billion yuan, with a year-on-year growth of 25.97%. In the first three quarters, the revenue is 259.045 billion yuan, with a year-on-year decrease of 12.09%; the net profit is 36.001 billion yuan, with a year-on-year growth of 15.59%.
iFLYTEK: Net profit in the third quarter is 56.9614 million yuan, with a year-on-year growth of 120.87%
36Kr learned that iFLYTEK released its third-quarter report. In the first three quarters, the company achieved an operating income of 14.849 billion yuan, with a year-on-year growth of 17.73%; the net profit attributable to shareholders of the listed company was a loss of 344 million yuan. In the third quarter, the operating income was 5.525 billion yuan, with a year-on-year growth of 15.77%; the net profit attributable to shareholders of the listed company was 56.9614 million yuan, with a year-on-year growth of 120.87%. While the company is increasing its R & D investment and layout in the Spark large model, it has achieved a positive profit in the current quarter.
YTO Express: In September, the revenue from express delivery products was 5.047 billion yuan, with a year-on-year growth of 19.57%
36Kr learned that YTO Express disclosed the main operating data of its express delivery business in September. In September 2024, the revenue from express delivery products was 5.047 billion yuan, with a year-on-year growth of 19.57%; the business volume completed was 2.312 billion tickets, with a year-on-year growth of 28.03%; the unit price of express delivery products was 2.18 yuan, with a year-on-year decrease of 6.61%.
STO Express: In September, the express delivery revenue was 4.033 billion yuan, with a year-on-year growth of 16.91%
36Kr learned that STO Express announced that in September 2024, the revenue from the express delivery service business was 4.033 billion yuan, with a year-on-year growth of 16.91%; the business volume completed was 1.998 billion tickets, with a year-on-year growth of 21.93%; the income per express delivery service ticket was 2.02 yuan, with a year-on-year decrease of 4.27%.
Cool Products
BYD Seal 06GT Officially Launched, Starting from 136,800 Yuan
36Kr learned that on October 18, BYD Ocean Network's first GT specifically designed for young people - the Seal 06GT - was officially launched. The new car is built based on BYD's e-platform 3.0 Evo, equipped with more than 13 globally pioneering technologies of BYD, and has more than 100 standard configurations across the series. The official guidance price is 136,800 yuan - 186,800 yuan.
Hafu Flying Camera X1 PRO and X1 PROMAX Officially on Sale
36Kr learned that on October 18, Hafu Flying Camera X1 PRO and X1 PROMAX officially went on sale across the entire network. It is understood that Hafu X1 PRO and PROMAX support an all-terrain flight mode and can be used for shooting in complex environments such as water surfaces, snowfields, and cliffs.
Organized by｜Yu Mo